FCA proposes access to travel insurance 'signposting' rule

Consultation closing 15 September

clock • 1 min read

The FCA is proposing to introduce a 'signposting rule' to provide consumers with details of insurance firms that have the appetite and capacity to cover consumers with complex medical histories who may have been declined cover, underwritten with an exclusion or had their premium loaded.

The Financial Conduct Authority (FCA) said it would be working with stakeholders as part of a consultation, closing 15 September, on how to produce relevant guidance materials for consumers taking out travel insurance. Liz Foster, managing director of the Chartered Insurance Institute's (CII) Society of Insurance Broking, welcomed the proposals. "We agree with the FCA's decision to introduce a requirement to signpost," she said. "We believe the duty to offer signposting is already implied by the requirement in the Insurance Distribution Directive (IDD) for anyone selling insurance to ‘ac...

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